Logitech International (LOGI) 10-Q 25 Jul 19 2020 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Jun. 30, 2019	Jul. 10, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2019
Document Transition Report	false
Entity File Number	0-29174
Entity Registrant Name	LOGITECH INTERNATIONAL SA
Entity Incorporation, State or Country Code	V8
Entity Address, Address Line One	1015 Lausanne
Entity Address, Country	CH
Entity Address, Address Line Two	c/o Logitech Inc.
Entity Address, Address Line Two	7700 Gateway Boulevard
Entity Address, City or Town	Newark
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94560
City Area Code	510
Local Phone Number	795-8500
Title of 12(b) Security	Registered Shares
Trading Symbol	LOGI
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		166,464,628
Entity Central Index Key	0001032975
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Net sales	$ 644,225	$ 608,480
Cost of goods sold	401,978	382,171
Amortization of intangible assets and purchase accounting effect on inventory	3,271	2,372
Gross profit	238,976	223,937
Operating expenses:
Marketing and selling	123,033	114,584
Research and development	42,243	38,987
General and administrative	22,159	25,473
Amortization of intangible assets and acquisition-related costs	3,596	2,521
Restructuring charges, net	478	9,921
Total operating expenses	191,509	191,486
Operating income	47,467	32,451
Interest income	2,553	2,369
Other income (expense), net	1,861	(1,571)
Income before income taxes	51,881	33,249
Provision for (benefit from) income taxes	6,536	(5,217)
Net income	$ 45,345	$ 38,466
Net income per share:
Basic (in dollars per share)	$ 0.27	$ 0.23
Diluted (in dollars per share)	$ 0.27	$ 0.23
Weighted average shares used to compute net income per share:
Basic (in shares)	166,302	165,317
Diluted (in shares)	168,797	168,756

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 45,345	$ 38,466
Other comprehensive income (loss):
Currency translation loss, net of taxes	(278)	(4,963)
Defined benefit plans:
Net loss and prior service costs, net of taxes	(311)	(94)
Amortization included in other income (expense), net	53	(70)
Hedging gain (loss):
Deferred hedging gain (loss), net of taxes	(943)	187
Reclassification of hedging loss (gain) included in cost of goods sold	(226)	2,851
Total other comprehensive income (loss)	(1,705)	(2,089)
Total comprehensive income	$ 43,640	$ 36,377

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019
Current assets:
Cash and cash equivalents	$ 596,956	$ 604,516
Accounts receivable, net	418,816	383,309
Inventories	297,007	293,495
Other current assets	68,927	69,116
Total current assets	1,381,706	1,350,436
Non-current assets:
Property, plant and equipment, net	76,713	78,552
Goodwill	343,702	343,684
Other intangible assets, net	112,132	118,999
Other assets	173,448	132,453
Total assets	2,087,701	2,024,124
Current liabilities:
Accounts payable	338,748	283,922
Accrued and other current liabilities	394,675	433,897
Total current liabilities	733,423	717,819
Non-current liabilities:
Income taxes payable	36,133	36,384
Other non-current liabilities	120,111	93,582
Total liabilities	889,667	847,785
Commitments and contingencies
Shareholders’ equity:
Registered shares, CHF 0.25 par value: Issued shares - 173,106 at June 30 and March 31, 2019 Additional shares that may be be issued out of conditional capitals - 50,000 at June 30 and March 31, 2019 Additional shares that may be issued out of the authorized capital - 34,621 at June 30 and March 31, 2019	30,148	30,148
Additional paid-in capital	35,048	56,655
Shares in treasury, at cost — 6,642 at June 30, 2019 and 7,244 at March 31, 2019	(170,140)	(169,802)
Retained earnings	1,410,381	1,365,036
Accumulated other comprehensive loss	(107,403)	(105,698)
Total shareholders’ equity	1,198,034	1,176,339
Total liabilities and shareholders’ equity	$ 2,087,701	$ 2,024,124

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - SFr / shares shares in Thousands	Jun. 30, 2019	Mar. 31, 2019
Statement of Financial Position [Abstract]
Shares, par value (in CHF per share)	SFr 0.25	SFr 0.25
Shares issued (in shares)	173,106	173,106
Shares that may be issued out of conditional capital (in shares)	50,000	50,000
Shares that may be issued out of the authorized capital (in shares)	34,621	34,621
Treasury, at cost, shares (in shares)	6,642	7,244

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities:
Net income	$ 45,345	$ 38,466
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	10,802	10,699
Amortization of intangible assets	6,867	4,893
Loss (gain) on investments	(211)	13
Share-based compensation expense	12,218	13,259
Deferred income taxes	(3,381)	(9,659)
Other	(4)	124
Changes in assets and liabilities, net of acquisitions:
Accounts receivable, net	(34,264)	(68,557)
Inventories	(2,681)	(18,200)
Other assets	(5,387)	(4,225)
Accounts payable	55,592	51,188
Accrued and other liabilities	(48,380)	(5,719)
Net cash provided by operating activities	36,516	12,282
Cash flows from investing activities:
Purchases of property, plant and equipment	(9,340)	(8,744)
Investment in privately held companies	(170)	(225)
Acquisitions, net of cash acquired	0	(243)
Purchases of trading investments	(1,155)	(2,500)
Proceeds from sales of trading investments	1,196	2,867
Net cash used in investing activities	(9,469)	(8,845)
Cash flows from financing activities:
Purchases of registered shares	(15,127)	(9,982)
Proceeds from exercises of stock options and purchase rights	393	1,104
Tax withholdings related to net share settlements of restricted stock units	(19,370)	(25,081)
Net cash used in financing activities	(34,104)	(33,959)
Effect of exchange rate changes on cash and cash equivalents	(503)	(7,309)
Net decrease in cash and cash equivalents	(7,560)	(37,831)
Cash and cash equivalents	596,956
Cash and cash equivalents, beginning of the period		641,947
Cash and cash equivalents, end of the period	596,956	604,116
Non-cash investing activities:
Property, plant and equipment purchased during the period and included in period end liability accounts	$ 3,580	$ 4,831

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Registered Shares	Additional Paid-in Capital	Treasury Shares	Retained Earnings	Accumulated Other Comprehensive Loss
Increase (Decrease) in Shareholders' Equity
Cumulative effect of adoption of new accounting standard	$ (10,882)				$ (10,882)
Beginning of the period at Mar. 31, 2018	1,050,557	$ 30,148	$ 47,234	$ (165,686)	1,232,316	$ (93,455)
Beginning of the period (in shares) at Mar. 31, 2018		173,106		8,527
Increase (Decrease) in Shareholders' Equity
Total comprehensive income	36,377				38,466	(2,089)
Purchase of registered shares (in shares)				255
Purchases of registered shares	(9,982)			$ (9,982)
Sales of shares upon exercise of stock options and purchase rights	1,104		439	$ 665
Sales of shares upon exercise of stock options and purchase rights (in shares)				(49)
Issuance of shares upon vesting of restricted stock units	(25,081)		(41,747)	$ 16,666
Issuance of shares upon vesting of restricted stock units (in shares)				(1,200)
Share-based compensation	13,167		13,167
End of the period at Jun. 30, 2018	1,055,260	$ 30,148	19,093	$ (158,337)	1,259,900	(95,544)
End of the period (in shares) at Jun. 30, 2018		173,106		7,533
Beginning of the period at Mar. 31, 2019	1,176,339	$ 30,148	56,655	$ (169,802)	1,365,036	(105,698)
Beginning of the period (in shares) at Mar. 31, 2019		173,106		7,244
Increase (Decrease) in Shareholders' Equity
Total comprehensive income	43,640				45,345	(1,705)
Purchase of registered shares (in shares)				389
Purchases of registered shares	(15,127)			$ (15,127)
Sales of shares upon exercise of stock options and purchase rights	393		8	$ 385
Sales of shares upon exercise of stock options and purchase rights (in shares)				(25)
Issuance of shares upon vesting of restricted stock units	(19,370)		(33,774)	$ 14,404
Issuance of shares upon vesting of restricted stock units (in shares)				(966)
Share-based compensation	12,159		12,159
End of the period at Jun. 30, 2019	$ 1,198,034	$ 30,148	$ 35,048	$ (170,140)	$ 1,410,381	$ (107,403)
End of the period (in shares) at Jun. 30, 2019		173,106		6,642

The Company and Summary of Sign

The Company and Summary of Significant Accounting Policies and Estimates	3 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
The Company and Summary of Significant Accounting Policies and Estimates	The Company and Summary of Significant Accounting Policies and Estimates The Company Logitech International S.A, together with its consolidated subsidiaries, ("Logitech" or the "Company") designs, manufactures and markets products that help connect people to digital and cloud experiences. More than 35 years ago, Logitech created products to improve experiences around the personal PC platform, and today it is a multi-brand, multi-category company designing products that enable better experiences consuming, sharing and creating any digital content such as music, gaming, video and computing, whether it is on a computer, mobile device or in the cloud. The Company sells its products to a broad network of domestic and international customers, including direct sales to retailers and e-tailers and indirect sales through distributors. Logitech was founded in Switzerland in 1981 and Logitech International S.A. has been the parent holding company of Logitech since 1988. Logitech International S.A. is a Swiss holding company with its registered office in Apples, Switzerland and headquarters in Lausanne, Switzerland, which conducts its business through subsidiaries in the Americas, Europe, Middle East and Africa ("EMEA") and Asia Pacific. Shares of Logitech International S.A. are listed on both the SIX Swiss Exchange under the trading symbol LOGN and the Nasdaq Global Select Market under the trading symbol LOGI. Basis of Presentation The condensed consolidated financial statements include the accounts of Logitech and its subsidiaries. All intercompany balances and transactions have been eliminated. The condensed consolidated financial statements are presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and therefore do not include all the information required by GAAP for complete financial statements. The condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements for the fiscal year ended March 31, 2019 , included in its Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on May 17, 2019. In the opinion of management, these condensed consolidated financial statements include all adjustments, consisting of only normal and recurring adjustments, necessary and in all material aspects, for a fair statement of the results of operations, comprehensive income, financial position, cash flows and changes in shareholders' equity for the periods presented. Operating results for the three months ended June 30, 2019 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2020, or any future periods. Changes in Significant Accounting Policies Other than the recent accounting pronouncements adopted and discussed below under Recent Accounting Pronouncements Adopted and Summary of Significant Accounting Policies , there have been no changes in the Company’s significant accounting policies during the three months ended June 30, 2019 compared with the significant accounting policies described in its Annual Report on Form 10-K for the fiscal year ended March 31, 2019 . Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make judgments, estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements. Management bases its estimates on historical experience and various other assumptions believed to be reasonable. Significant estimates and assumptions made by management involve the fair value of goodwill, intangible assets acquired from business acquisitions, valuation of operating right-of-use assets, warranty liabilities, accruals for customer incentives, cooperative marketing, and pricing programs (Customer Programs) and related breakage when appropriate, accrued sales return liability, allowance for doubtful accounts, inventory valuation, share-based compensation expense, uncertain tax positions, and valuation allowances for deferred tax assets. Although these estimates are based on management’s best knowledge of current events and actions that may impact the Company in the future, actual results could differ materially from these estimates. Recent Accounting Pronouncements Adopted In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-02, "Leases (Topic 842)" (ASU 2016-02 or Topic 842), which requires a lessee to recognize right-of-use (ROU) assets and lease liabilities arising from operating and financing leases with terms longer than 12 months on the consolidated balance sheets and to disclose key information about leasing arrangements. The Company adopted the new standard effective April 1, 2019 and recorded an ROU asset and lease liability related to its operating leases. The Company used the modified retrospective approach with the effective date as the date of initial application. Accordingly, the Company applied the new lease standard prospectively to leases existing or commencing on or after April 1, 2019. Prior period balances and disclosures have not been restated. The Company elected the package of transitional practical expedients, which among other provisions, allows the Company to not reassess under the new standard the Company's prior conclusions about lease identification, lease classification and initial direct cost, for any existing leases on the adoption date. In addition, for operating leases, the Company elected to account for lease and non-lease components as a single lease component. The Company also made an accounting policy election to not recognize lease liabilities and ROU assets on its condensed consolidated balance sheet for leases that, at the lease commencement date, have a lease term of 12 months or less. Adoption of the standard resulted in the recognition of $31.3 million of ROU assets and $37.4 million of lease liabilities related to the Company's leases on its condensed consolidated balance sheet on April 1, 2019. The difference of $6.1 million represented deferred rent for leases that existed as of the date of adoption, which decreased the opening balance of ROU assets. In addition, the prepaid rent balance as of the date of adoption increased the opening balance of ROU assets. The deferred rent and prepaid rent balances were derecognized as of the date of adoption and no adjustment was made to retained earnings. The adoption of the standard did not have an impact on our condensed consolidated statement of operations, comprehensive income, changes in shareholders' equity or cash flows. In August 2018, the FASB issued ASU 2018-15, "Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract" (ASU 2018-15), which clarifies that implementation costs incurred by customers in cloud computing arrangements are deferred if they would be capitalized by customers in software licensing arrangements under the internal-use software guidance. ASU 2018-15 is effective for annual and interim periods in fiscal years beginning after December 15, 2019, with early adoption permitted. Entities have the option to apply the guidance prospectively to all implementation costs incurred after the date of adoption or retrospectively. The Company adopted this standard effective April 1, 2019 using a prospective adoption method. The adoption of ASU 2018-15 did not have a material impact on the Company's condensed consolidated financial statements. Recent Accounting Pronouncements to be Adopted In August 2018, the FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurements" (ASU 2018-13), which aims to improve the overall usefulness of disclosures to financial statement users and reduce unnecessary costs to companies when preparing fair value measurement disclosures. ASU 2018-13 is effective for annual and interim periods in fiscal years beginning after December 15, 2019. Early adoption is permitted. Retrospective adoption is required, except for certain disclosures which will be required to be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. The Company does not expect the adoption of ASU 2018-13 will have a material impact on its consolidated financial statements and plans to adopt the standard effective April 1, 2020. In August 2018, the FASB issued ASU 2018-14, "Compensation - Retirement Benefits - Defined Benefits Plans - General (Subtopic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans" (ASU 2018-14), which aims to improve the overall usefulness of disclosures to financial statement users and reduce unnecessary costs to companies when preparing defined benefit plan disclosures. ASU 2018-14 is effective for annual periods in fiscal years ending after December 15, 2020. Retrospective adoption is required and early adoption is permitted. The Company does not expect the adoption of ASU 2018-14 will have a material impact on its consolidated financial statements and plans to early adopt the standard effective April 1, 2020.

Net Income Per Share

Net Income Per Share	3 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Net Income Per Share	Net Income Per Share The following table summarizes the computations of basic and diluted net income per share for the three months ended June 30, 2019 and June 30, 2018 (in thousands, except per share amounts): Three Months Ended 2019 2018 Net income $ 45,345 $ 38,466 Shares used in net income per share computation: Weighted average shares outstanding - basic 166,302 165,317 Effect of potentially dilutive equivalent shares 2,495 3,439 Weighted average shares outstanding - diluted 168,797 168,756 Net income per share: Basic $ 0.27 $ 0.23 Diluted $ 0.27 $ 0.23 Share equivalents attributable to outstanding stock options, restricted stock units ("RSUs") and employee share purchase rights (ESPP) totaling 2.0 million and 1.5 million for the three months ended June 30, 2019 and 2018 , respectively, were excluded from the calculation of diluted net income per share because the combined exercise price and average unamortized grant date fair value upon exercise of these options and ESPP or vesting of RSUs were greater than the average market price of the Company's shares during the periods presented herein, and therefore their inclusion would have been anti-dilutive. Performance-based awards were not included because all necessary conditions have not been satisfied by the end of the respective period, and those shares were not issuable if the end of the reporting period was the end of the contingency period.

Employee Benefit Plans

Employee Benefit Plans	3 Months Ended
	Jun. 30, 2019
Share-based Payment Arrangement [Abstract]
Employee Benefit Plans	Employee Benefit Plans Employee Share Purchase Plans and Stock Incentive Plans As of June 30, 2019 , the Company offers the 2006 Employee Share Purchase Plan, as amended and restated (Non-U.S.) (2006 ESPP), the 1996 Employee Share Purchase Plan (U.S.), as amended and restated (1996 ESPP), the 2006 Stock Incentive Plan, as amended and restated (2006 Plan), and the 2012 Stock Inducement Equity Plan (2012 Plan). The following table summarizes the share-based compensation expense and total income tax benefit recognized for share-based awards for the three months ended June 30, 2019 and 2018 (in thousands): Three Months Ended 2019 2018 Cost of goods sold $ 1,158 $ 1,130 Marketing and selling 6,849 5,786 Research and development 2,154 1,549 General and administrative 2,057 4,794 Total share-based compensation expense 12,218 13,259 Income tax benefit (6,800 ) (9,529 ) Total share-based compensation expense, net of income tax benefit $ 5,418 $ 3,730 The income tax benefit in the respective period primarily consists of tax benefit related to the share-based compensation expense for the period and direct tax benefit realized, including net excess tax benefits recognized from share-based awards vested or exercised during the period. As of June 30, 2019 and 2018 , the balance of capitalized share-based compensation included in inventory was $0.9 million and $0.6 million , respectively. Defined Benefit Plans Certain of the Company’s subsidiaries sponsor defined benefit pension plans or non-retirement post-employment benefits covering substantially all of their employees. Benefits are provided based on employees’ years of service and earnings, or in accordance with applicable employee benefit regulations. The Company’s practice is to fund amounts sufficient to meet the requirements set forth in the applicable employee benefit and tax regulations. The costs recorded of $2.4 million and $2.3 million for the three months ended June 30, 2019 and 2018 , respectively, were primarily related to service costs.

Income Taxes

Income Taxes	3 Months Ended
	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company is incorporated in Switzerland but operates in various countries with differing tax laws and rates. Further, a portion of the Company’s income before taxes and the provision for (benefit from) income taxes are generated outside of Switzerland. The income tax provision for the three months ended June 30, 2019 was $6.5 million based on an effective income tax rate of 12.6% of pre-tax income, compared to an income tax benefit of $5.2 million based on an effective income tax rate of (15.7)% of pre-tax income for the three months ended June 30, 2018 . On May 19, 2019, the Swiss electorate approved the Federal Act on Tax Reform and AHV Financing ("TRAF"), a major reform to better align the Swiss tax system with international tax standards. The tax reform is expected to take effect on January 1, 2020. As of June 30, 2019, TRAF has not been enacted as the federal and cantonal legislative procedures are in process. The change in the effective income tax rate for the three months ended June 30, 2019 , compared to the same period ended June 30, 2018 , was primarily due to the mix of income and losses in the various tax jurisdictions which the Company operates and the transitional income tax impact in Switzerland. The Company has benefited from a longstanding tax ruling from the canton of Vaud through March 31, 2019. The transitional income tax impact represents income tax provision at the current full statutory income tax rate of 13.62% , without taking account of the federal and cantonal tax reform yet to be enacted. In the three months ended June 30, 2019, there was a discrete tax provision of $2.3 million to record net deferred tax liability in Switzerland. Furthermore, there were discrete tax benefits of $5.8 million and $1.2 million from the recognition of excess tax benefits in the United States and reversal of uncertain tax positions from the expiration of statutes of limitations, respectively, in the three-month period ended June 30, 2019 , compared with $8.3 million and $0.9 million , respectively, in the three-month period ended June 30, 2018 . As of June 30, 2019 and March 31, 2019 , the total amount of unrecognized tax benefits due to uncertain tax positions was $77.3 million and $76.5 million , respectively, all of which would affect the effective income tax rate if recognized. As of June 30, 2019 and March 31, 2019 , the Company had $36.1 million and $36.4 million , respectively, in non-current income taxes payable including interest and penalties, related to the Company's income tax liability for uncertain tax positions. The Company recognizes interest and penalties related to unrecognized tax positions in income tax provision. As of June 30, 2019 and March 31, 2019 , the Company had $2.6 million and $2.5 million , respectively, of accrued interest and penalties related to uncertain tax positions. Although the Company has adequately provided for uncertain tax positions, the provisions on these positions may change as revised estimates are made or the underlying matters are settled or otherwise resolved. During fiscal year 2020, the Company continues to review its tax positions and provide for or reverse unrecognized tax benefits as they arise. During the next twelve months, it is reasonably possible that the amount of unrecognized tax benefits could increase or decrease significantly due to changes in tax law in various jurisdictions, new tax audits and changes in the U.S. dollar as compared to other currencies. Excluding these factors, uncertain tax positions may decrease by as much as $3.7 million from the lapse of the statutes of limitations in various jurisdictions during the next twelve months.

Balance Sheet Components

Balance Sheet Components	3 Months Ended
	Jun. 30, 2019
Balance Sheet Related Disclosures [Abstract]
Balance Sheet Components	Balance Sheet Components The following table presents the components of certain balance sheet asset amounts as of June 30 and March 31 , 2019 (in thousands): June 30, 2019 March 31, 2019 Accounts receivable, net: Accounts receivable $ 602,656 $ 573,348 Allowance for doubtful accounts (1,029 ) (84 ) Allowance for sales returns (5,505 ) (6,486 ) Allowance for cooperative marketing arrangements (34,480 ) (35,080 ) Allowance for customer incentive programs (58,021 ) (60,036 ) Allowance for pricing programs (84,805 ) (88,353 ) $ 418,816 $ 383,309 Inventories: Raw materials $ 41,380 $ 40,970 Finished goods 255,627 252,525 $ 297,007 $ 293,495 Other current assets: Value-added tax receivables $ 34,989 $ 34,321 Prepaid expenses and other assets 33,938 34,795 $ 68,927 $ 69,116 Property, plant and equipment, net: Property, plant and equipment at cost $ 362,099 $ 359,345 Accumulated depreciation and amortization (285,386 ) (280,793 ) $ 76,713 $ 78,552 Other assets: Deferred tax assets $ 96,183 $ 90,808 Right-of-use assets (1) 31,994 — Trading investments for deferred compensation plan 23,420 20,363 Investments in privately held companies 16,371 16,022 Other assets 5,480 5,260 $ 173,448 $ 132,453 (1) Increase of balances was due to the adoption of Topic 842. Refer to Note 1 to the condensed consolidated financial statements for more information. The following table presents the components of certain balance sheet liability amounts as of June 30 and March 31, 2019 (in thousands): June 30, 2019 March 31, 2019 Accrued and other current liabilities: Accrued personnel expenses $ 67,869 $ 103,166 Accrued sales return liability 33,735 37,749 Accrued customer marketing, pricing and incentive programs 139,625 143,888 Lease liability (1) 12,358 — Warranty accrual 22,461 21,524 Income taxes payable 7,445 6,207 Other current liabilities 111,182 121,363 $ 394,675 $ 433,897 Other non-current liabilities: Warranty accrual $ 13,353 $ 12,705 Obligation for deferred compensation plan 23,420 20,363 Employee benefit plan obligation 51,978 51,448 Lease liability (1) 25,816 — Deferred tax liability 4,351 2,050 Other non-current liabilities 1,193 7,016 $ 120,111 $ 93,582 (1) Increase of balances was due to the adoption of Topic 842. Refer to Note 1 to the condensed consolidated financial statements for more information.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Jun. 30, 2019
Financial Instruments, Owned, at Fair Value [Abstract]
Fair Value Measurements	Fair Value Measurements Fair Value Measurements The Company considers fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. The Company utilizes the following three-level fair value hierarchy to establish the priorities of the inputs used to measure fair value: • Level 1 — Quoted prices in active markets for identical assets or liabilities. • Level 2 — Observable inputs other than quoted market prices included in Level 1, such as: quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. • Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. The following table presents the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis, excluding assets related to the Company’s defined benefit pension plans, classified by the level within the fair value hierarchy (in thousands): June 30, 2019 March 31, 2019 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets: Cash equivalents $ 497,035 $ — $ — $ 496,434 $ — $ — Trading investments for deferred compensation plan included in other assets: Money market funds $ 5,315 $ — $ — $ 4,080 $ — $ — Mutual funds 18,105 — — 16,283 — — Total of trading investments for deferred compensation plan $ 23,420 $ — $ — $ 20,363 $ — $ — Currency exchange derivative assets $ — $ 176 $ — $ — $ 455 $ — Liabilities: Currency exchange derivative liabilities $ — $ 1,177 $ — $ — $ 36 $ — Investment Securities The marketable securities for the Company's deferred compensation plan were recorded at a fair value of $23.4 million and $20.4 million , as of June 30, 2019 and March 31, 2019 , respectively, based on quoted market prices. Quoted market prices are observable inputs that are classified as Level 1 within the fair value hierarchy. Unrealized gains (losses) related to trading securities for the three months ended June 30, 2019 and 2018 were not material and are included in other income (expense), net in the Company's condensed consolidated statements of operations. Equity Method Investments The Company has certain non-marketable investments included in other assets that are accounted for under the equity method of accounting, with a carrying value of $7.0 million and $6.6 million as of June 30, 2019 and March 31, 2019 , respectively. Assets Measured at Fair Value on a Nonrecurring Basis Financial Assets. The Company has certain investments without readily determinable fair values due to the absence of quoted market prices, the inherent lack of liquidity, and the fact that inputs used to measure fair value are unobservable and require management's judgment. When certain events or circumstances indicate that impairment may exist, the Company revalues the investments using various assumptions, including the financial metrics and ratios of comparable public companies. The carrying value is also adjusted for observable price changes with a same or similar security from the same issuer. The amount of these investments included in other assets as of June 30, 2019 and March 31, 2019 was $9.5 million . There was no impairment of these assets during the three months ended June 30, 2019 or 2018 . Non-Financial Assets. The Company’s non-financial assets, such as intangible assets and acquisition-related property, plant and equipment, are recorded at fair value only upon initial recognition or if an impairment is recognized. There was no impairment of these assets during the three months ended June 30, 2019 or 2018 .

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments Under certain agreements with the respective counterparties to the Company’s derivative contracts, subject to applicable requirements, the Company is allowed to net settle transactions of the same type with a single net amount payable by one party to the other. However, the Company presents its derivative assets and derivative liabilities on a gross basis on the condensed consolidated balance sheets as of June 30, 2019 and March 31, 2019 . The fair value of the Company’s derivative instruments was not material as of June 30, 2019 or March 31, 2019 . The amount of gain (loss) recognized on derivatives not designated as hedging instruments was not material in all periods presented herein. The following table presents the amounts of gains (losses) on the Company’s derivative instruments designated as hedging instruments and their locations on its condensed consolidated statements of operations and condensed consolidated statements of comprehensive income for the three months ended June 30, 2019 and 2018 (in thousands): Three Months Ended Amount of Gain (Loss) Amount of Loss (Gain) 2019 2018 2019 2018 Cash flow hedges $ (943 ) $ 187 $ (226 ) $ 2,851 Cash Flow Hedges The Company enters into cash flow hedge contracts to protect against exchange rate exposure of forecasted inventory purchases. These hedging contracts mature within four months . Gains and losses in the fair value of the effective portion of the hedges are deferred as a component of accumulated other comprehensive loss until the hedged inventory purchases are sold, at which time the gains or losses are reclassified to cost of goods sold. Cash flows from such hedges are classified as operating activities in the condensed consolidated statements of cash flows. Hedging relationships are discontinued when hedging contract is no longer eligible for hedge accounting, or is sold, terminated or exercised, or when Company removes hedge designation for the contract. Gains and losses in the fair value of the effective portion of the discontinued hedges continue to be reported in accumulated other comprehensive loss until the hedged inventory purchases are sold, unless it is probable that the forecasted inventory purchases will not occur by the end of the originally specified time period or within an additional two -month period of time thereafter. In all periods presented herein, there have been no forecasted inventory purchases that were probable to not occur by the end of the originally specified time period or within an additional two-month period of time thereafter. The notional amounts of foreign currency exchange forward contracts outstanding related to forecasted inventory purchases were $68.2 million as of June 30, 2019 and $41.4 million as of March 31, 2019 . The Company had $0.8 million of net losses related to its cash flow hedges included in accumulated other comprehensive loss as of June 30, 2019 which will be reclassified into earnings within the next 12 months. Other Derivatives The Company also enters into foreign currency exchange forward and swap contracts to reduce the short-term effects of currency exchange rate fluctuations on certain receivables or payables denominated in currencies other than the functional currencies of its subsidiaries. These contracts generally mature within one month . The primary risk managed by using forward and swap contracts is the currency exchange rate risk. The gains or losses on these contracts are recognized in other income (expense), net in the condensed consolidated statements of operations based on the changes in fair value. The notional amounts of these contracts outstanding as of June 30, 2019 and March 31, 2019 were $53.2 million and $50.4 million , respectively. Open forward and swap contracts outstanding as of June 30, 2019 and March 31, 2019 consisted of contracts in Mexican Pesos, Japanese Yen, Canadian Dollars, Taiwan New Dollars and Australian Dollars to be settled at future dates at pre-determined exchange rates.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets The Company conducts its impairment analysis of goodwill annually at December 31 and as necessary, if changes in facts and circumstances indicate that it is more likely than not that the fair value of the Company’s reporting unit may be less than its carrying amount. There have been no events or circumstances during the three months ended June 30, 2019 that have required the Company to perform an interim assessment of goodwill. The following table summarizes the activities in the Company’s goodwill balance during the three months ended June 30, 2019 (in thousands): As of March 31, 2019 $ 343,684 Currency translation 18 As of June 30, 2019 $ 343,702 The Company's acquired intangible assets subject to amortization were as follows (in thousands): June 30, 2019 March 31, 2019 Gross Carrying Amount Accumulated Net Carrying Amount Gross Carrying Amount Accumulated Net Carrying Amount Trademark and trade names $ 36,370 $ (14,889 ) $ 21,481 $ 36,370 $ (13,659 ) $ 22,711 Developed technology 95,207 (65,612 ) 29,595 95,207 (62,341 ) 32,866 Customer contracts/relationships 84,610 (23,554 ) 61,056 84,610 (21,188 ) 63,422 Total $ 216,187 $ (104,055 ) $ 112,132 $ 216,187 $ (97,188 ) $ 118,999

Financing Arrangements

Financing Arrangements	3 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Financing Arrangements	Financing Arrangements The Company had several uncommitted, unsecured bank lines of credit aggregating $79.3 million as of June 30, 2019 . There are no financial covenants under these lines of credit with which the Company must comply. As of June 30, 2019 , the Company had outstanding bank guarantees of $15.7 million under these lines of credit. There was no borrowing outstanding under these lines of credit as of June 30, 2019 or March 31, 2019 .

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Product Warranties Changes in the Company’s warranty liability for the three months ended June 30, 2019 and 2018 were as follows (in thousands): Three Months Ended 2019 2018 Beginning of the period $ 34,229 $ 27,573 Provision 8,535 7,364 Settlements (6,977 ) (6,552 ) Currency translation 27 468 End of the period $ 35,814 $ 28,853 Indemnifications The Company indemnifies certain of its suppliers and customers for losses arising from matters such as intellectual property disputes and product safety defects, subject to certain restrictions. The scope of these indemnities varies, but in some instances, includes indemnification for damages and expenses, including reasonable attorneys’ fees. As of June 30, 2019 , no amounts have been accrued for these indemnification provisions. The Company does not believe, based on historical experience and information currently available, that it is probable that any material amounts will be required to be paid under its indemnification arrangements. The Company also indemnifies its current and former directors and certain of its current and former officers. Certain costs incurred for providing such indemnification may be recoverable under various insurance policies. The Company is unable to reasonably estimate the maximum amount that could be payable under these arrangements because these exposures are not limited, the obligations are conditional in nature and the facts and circumstances involved in any situation that might arise are variable. Legal Proceedings From time to time the Company is involved in claims and legal proceedings that arise in the ordinary course of its business. The Company is currently subject to several such claims and a small number of legal proceedings. The Company believes that these matters lack merit and intends to vigorously defend against them. Based on currently available information, the Company does not believe that resolution of pending matters will have a material adverse effect on its financial condition, cash flows or results of operations. However, litigation is subject to inherent uncertainties, and there can be no assurances that the Company’s defenses will be successful or that any such lawsuit or claim would not have a material adverse impact on the Company’s business, financial condition, cash flows or results of operations in a particular period. Any claims or proceedings against the Company, whether meritorious or not, can have an adverse impact because of defense costs, diversion of management and operational resources, negative publicity and other factors. Any failure to obtain a necessary license or other rights, or litigation arising out of intellectual property claims, could adversely affect the Company’s business.

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Jun. 30, 2019
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders’ Equity Share Repurchase Program In March 2017, the Company's Board of Directors approved the 2017 share buyback program, which authorizes the Company to use up to $250.0 million to purchase up to 17.3 million shares of its own shares. The Company's share buyback program is expected to remain in effect for a period of three years . Shares may be repurchased from time to time on the open market, through block trades or otherwise. Purchases may be started or stopped at any time without prior notice depending on market conditions and other factors. As of June 30, 2019 , $172.4 million is still available for repurchase under the 2017 buyback program. Accumulated Other Comprehensive Income (Loss) The accumulated other comprehensive income (loss) was as follows (in thousands): Accumulated Other Comprehensive Income (Loss) Cumulative (1) Defined (1) Deferred Hedging Losses (1) Total March 31, 2019 $ (92,148 ) $ (13,932 ) $ 382 $ (105,698 ) Other comprehensive income (loss) (278 ) (258 ) (1,169 ) (1,705 ) June 30, 2019 $ (92,426 ) $ (14,190 ) $ (787 ) $ (107,403 ) (1) Tax effect was not significant as of June 30 or March 31, 2019 .

Segment Information

Segment Information	3 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Segment Information	Segment Information The Company has determined that it operates in a single operating segment that encompasses the design, manufacturing and marketing of peripherals for PCs, tablets and other digital platforms. Operating performance measures are provided directly to the Company's CEO, who is considered to be the Company’s Chief Operating Decision Maker. The CEO periodically reviews information such as sales and adjusted operating income (loss) to make business decisions. These operating performance measures do not include restructuring charges (credits), net, share-based compensation expense, amortization of intangible assets, charges from the purchase accounting effect on inventory, acquisition-related costs or change in fair value of contingent consideration from business acquisition. Sales by product categories and sales channels, excluding intercompany transactions, for the three months ended June 30, 2019 and 2018 were as follows (in thousands): Three Months Ended 2019 2018 Pointing Devices $ 121,983 $ 127,790 Keyboards & Combos 128,679 128,222 PC Webcams 28,128 29,674 Tablet & Other Accessories 38,339 32,436 Video Collaboration 73,424 58,792 Mobile Speakers 50,416 34,327 Audio & Wearables 58,624 52,154 Gaming 134,515 136,026 Smart Home 9,864 9,011 Other (1) 253 48 Total sales $ 644,225 $ 608,480 (1) Other category includes products that the Company currently intends to phase out, or has already phased out, because they are no longer strategic to the Company's business. Sales by geographic region (based on the customers’ locations) for the three months ended June 30, 2019 and 2018 were as follows (in thousands): Three Months Ended 2019 2018 Americas $ 293,445 $ 276,928 EMEA 179,106 160,632 Asia Pacific 171,674 170,920 Total sales $ 644,225 $ 608,480 Sales are attributed to countries on the basis of the customers’ locations. The United States, Germany, and China each represented more than 10% of the total consolidated sales for each of the periods presented herein. No other countries represented 10% or more of the Company’s total consolidated sales for the periods presented herein. Switzerland, the Company’s home domicile, represented 3% of the Company's total consolidated sales for the three months ended June 30, 2019 and represented 2% of the Company's total consolidated sales for the three months ended June 30, 2018. Two customers of the Company each represented more than 10% of the total consolidated gross sales for each of the periods presented herein. Property, plant and equipment, net by geographic region were as follows (in thousands): June 30, 2019 March 31, 2019 Americas $ 27,746 $ 29,813 EMEA 4,803 4,537 Asia Pacific 44,164 44,202 Total property, plant and equipment, net $ 76,713 $ 78,552 Property, plant and equipment, net in the United States and China were $27.7 million and $36.5 million , respectively, as of June 30, 2019 , and $29.8 million and $36.4 million , respectively, as of March 31, 2019 . No other countries represented 10% or more of the Company’s total consolidated property, plant and equipment, net as of June 30, 2019 or March 31, 2019 . Property, plant and equipment, net in Switzerland, the Company’s home domicile, were $2.0 million and $1.7 million as of June 30, 2019 and March 31, 2019 , respectively.

Restructuring

Restructuring	3 Months Ended
	Jun. 30, 2019
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring During the first quarter of fiscal year 2019, the Company implemented a restructuring plan to streamline and realign the Company's overall organizational structure and reallocate resources to support long-term growth opportunities. In July 2018, the Company's Board of Directors approved additional costs under this restructuring plan, totaling pre-tax charges of approximately $10.0 million to $15.0 million , of which $11.8 million has been recognized cumulatively as of June 30, 2019 . The total charges consisted of cash severance and other personnel costs and are presented as restructuring charges, net in the condensed consolidated statements of operations, and the accrual balances are presented in accrued and other current liabilities in the condensed consolidated balance sheets. As of June 30, 2019 , the Company has substantially completed this restructuring plan. The following table summarizes restructuring related activities during the three months ended June 30, 2019 (in thousands): Termination Accrual balance at March 31, 2019 $ 4,389 Charges 478 Cash payments (1,956 ) Accrual balance at June 30, 2019 $ 2,911

Leases

Leases	3 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Leases	Leases The Company is a lessee in several noncancellable operating leases, primarily real estate facilities for office space and for transportation and office equipment. The Company accounts for leases in accordance with Topic 842 (see Note 1) and determines if an arrangement is a lease or contains a lease at contract inception. ROU assets are included in other assets, short-term lease liabilities are included in accrued and other current liabilities, and long-term lease liabilities are included in other non-current liabilities on the Company's unaudited condensed consolidated balance sheet. Leases with an initial term of 12 months or less are not recorded on the balance sheet. For the Company's operating leases, the Company accounts for the lease and non-lease components as a single lease component. Lease expense is recognized on a straight-line basis over the lease term. For operating leases, the lease liability is initially and subsequently measured at the present value of the unpaid lease payments at lease commencement date. Topic 842 requires a lessee to discount its unpaid lease payments using the interest rate implicit in the lease or, if the rate cannot be readily determined, its incremental borrowing rate. As the rate implicit in the lease is not readily determinable for the Company's operating leases, the Company generally uses an incremental borrowing rate as the discount rate for the lease. The Company's incremental borrowing rate is the rate of interest it would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. Because the Company does not generally borrow in a collateralized basis, it uses its understanding of what its collateralized credit rating would be as an input to deriving an appropriate incremental borrowing rate. The operating lease right-of-use asset includes any lease payments made and excludes lease incentives. The Company's lease arrangements comprise of operating leases with various expiration dates through December 31, 2030 . The lease term for all of the Company’s leases includes the noncancellable period of the lease. Certain lease agreements include options to renew or terminate the lease, which are not reasonably certain to be exercised and therefore are not factored into our determination of the duration of the lease arrangement. The Company's leases do not contain any material residual value guarantees. For the three months ended June 30, 2019 , the total operating lease costs were $3.3 million , which included short-term lease costs and sublease income. Total variable lease costs were immaterial during the three months ended June 30, 2019 . The total operating and variable lease costs were included in cost of goods sold, marketing and selling, research and development, and general and administrative in the Company's unaudited condensed consolidated statement of operations. As of June 30, 2019 , the weighted-average remaining lease term was 4 years, and the weighted-average discount rate was 2.9% . For the three months ended June 30, 2019 , cash paid for amounts included in the measurement of operating lease liabilities was $3.1 million and right-of-use assets obtained in exchange for new operating lease liabilities was $3.4 million . Future lease payments included in the measurement of lease liabilities as of June 30, 2019 for the following five fiscal years and thereafter are as follows (in thousands): Operating Lease Remaining 2020 $ 10,294 2021 11,003 2022 9,065 2023 5,486 2024 1,236 Thereafter 3,655 Total lease payments 40,739 Less interest (2,565 ) Present value of lease liabilities $ 38,174 Future minimum lease payments, as defined under the previous lease accounting guidance of ASC Topic 840 under our non-cancelable operating leases as of March 31, 2019 were as follows (in thousands): Years Ending March 31, Operating Lease 2020 $ 11,849 2021 10,002 2022 7,882 2023 5,111 2024 1,130 Thereafter 3,646 Total lease payments $ 39,620

The Company and Summary of Si_2

The Company and Summary of Significant Accounting Policies and Estimates (Policies)	3 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements include the accounts of Logitech and its subsidiaries. All intercompany balances and transactions have been eliminated. The condensed consolidated financial statements are presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and therefore do not include all the information required by GAAP for complete financial statements. The condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements for the fiscal year ended March 31, 2019 , included in its Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on May 17, 2019. In the opinion of management, these condensed consolidated financial statements include all adjustments, consisting of only normal and recurring adjustments, necessary and in all material aspects, for a fair statement of the results of operations, comprehensive income, financial position, cash flows and changes in shareholders' equity for the periods presented. Operating results for the three months ended June 30, 2019 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2020, or any future periods.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make judgments, estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements. Management bases its estimates on historical experience and various other assumptions believed to be reasonable. Significant estimates and assumptions made by management involve the fair value of goodwill, intangible assets acquired from business acquisitions, valuation of operating right-of-use assets, warranty liabilities, accruals for customer incentives, cooperative marketing, and pricing programs (Customer Programs) and related breakage when appropriate, accrued sales return liability, allowance for doubtful accounts, inventory valuation, share-based compensation expense, uncertain tax positions, and valuation allowances for deferred tax assets. Although these estimates are based on management’s best knowledge of current events and actions that may impact the Company in the future, actual results could differ materially from these estimates.
Recent Accounting Pronouncements Issued and Adopted	Recent Accounting Pronouncements Adopted In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-02, "Leases (Topic 842)" (ASU 2016-02 or Topic 842), which requires a lessee to recognize right-of-use (ROU) assets and lease liabilities arising from operating and financing leases with terms longer than 12 months on the consolidated balance sheets and to disclose key information about leasing arrangements. The Company adopted the new standard effective April 1, 2019 and recorded an ROU asset and lease liability related to its operating leases. The Company used the modified retrospective approach with the effective date as the date of initial application. Accordingly, the Company applied the new lease standard prospectively to leases existing or commencing on or after April 1, 2019. Prior period balances and disclosures have not been restated. The Company elected the package of transitional practical expedients, which among other provisions, allows the Company to not reassess under the new standard the Company's prior conclusions about lease identification, lease classification and initial direct cost, for any existing leases on the adoption date. In addition, for operating leases, the Company elected to account for lease and non-lease components as a single lease component. The Company also made an accounting policy election to not recognize lease liabilities and ROU assets on its condensed consolidated balance sheet for leases that, at the lease commencement date, have a lease term of 12 months or less. Adoption of the standard resulted in the recognition of $31.3 million of ROU assets and $37.4 million of lease liabilities related to the Company's leases on its condensed consolidated balance sheet on April 1, 2019. The difference of $6.1 million represented deferred rent for leases that existed as of the date of adoption, which decreased the opening balance of ROU assets. In addition, the prepaid rent balance as of the date of adoption increased the opening balance of ROU assets. The deferred rent and prepaid rent balances were derecognized as of the date of adoption and no adjustment was made to retained earnings. The adoption of the standard did not have an impact on our condensed consolidated statement of operations, comprehensive income, changes in shareholders' equity or cash flows. In August 2018, the FASB issued ASU 2018-15, "Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract" (ASU 2018-15), which clarifies that implementation costs incurred by customers in cloud computing arrangements are deferred if they would be capitalized by customers in software licensing arrangements under the internal-use software guidance. ASU 2018-15 is effective for annual and interim periods in fiscal years beginning after December 15, 2019, with early adoption permitted. Entities have the option to apply the guidance prospectively to all implementation costs incurred after the date of adoption or retrospectively. The Company adopted this standard effective April 1, 2019 using a prospective adoption method. The adoption of ASU 2018-15 did not have a material impact on the Company's condensed consolidated financial statements. Recent Accounting Pronouncements to be Adopted In August 2018, the FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurements" (ASU 2018-13), which aims to improve the overall usefulness of disclosures to financial statement users and reduce unnecessary costs to companies when preparing fair value measurement disclosures. ASU 2018-13 is effective for annual and interim periods in fiscal years beginning after December 15, 2019. Early adoption is permitted. Retrospective adoption is required, except for certain disclosures which will be required to be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. The Company does not expect the adoption of ASU 2018-13 will have a material impact on its consolidated financial statements and plans to adopt the standard effective April 1, 2020. In August 2018, the FASB issued ASU 2018-14, "Compensation - Retirement Benefits - Defined Benefits Plans - General (Subtopic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans" (ASU 2018-14), which aims to improve the overall usefulness of disclosures to financial statement users and reduce unnecessary costs to companies when preparing defined benefit plan disclosures. ASU 2018-14 is effective for annual periods in fiscal years ending after December 15, 2020. Retrospective adoption is required and early adoption is permitted. The Company does not expect the adoption of ASU 2018-14 will have a material impact on its consolidated financial statements and plans to early adopt the standard effective April 1, 2020.

Net Income Per Share (Tables)

Net Income Per Share (Tables)	3 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Schedule of computations of basic and diluted net income per share	The following table summarizes the computations of basic and diluted net income per share for the three months ended June 30, 2019 and June 30, 2018 (in thousands, except per share amounts): Three Months Ended 2019 2018 Net income $ 45,345 $ 38,466 Shares used in net income per share computation: Weighted average shares outstanding - basic 166,302 165,317 Effect of potentially dilutive equivalent shares 2,495 3,439 Weighted average shares outstanding - diluted 168,797 168,756 Net income per share: Basic $ 0.27 $ 0.23 Diluted $ 0.27 $ 0.23

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	3 Months Ended
	Jun. 30, 2019
Share-based Payment Arrangement [Abstract]
Summary of share-based compensation expense and related tax benefit recognized	The following table summarizes the share-based compensation expense and total income tax benefit recognized for share-based awards for the three months ended June 30, 2019 and 2018 (in thousands): Three Months Ended 2019 2018 Cost of goods sold $ 1,158 $ 1,130 Marketing and selling 6,849 5,786 Research and development 2,154 1,549 General and administrative 2,057 4,794 Total share-based compensation expense 12,218 13,259 Income tax benefit (6,800 ) (9,529 ) Total share-based compensation expense, net of income tax benefit $ 5,418 $ 3,730

Balance Sheet Components (Table

Balance Sheet Components (Tables)	3 Months Ended
	Jun. 30, 2019
Balance Sheet Related Disclosures [Abstract]
Schedule of components of balance sheet asset	The following table presents the components of certain balance sheet asset amounts as of June 30 and March 31 , 2019 (in thousands): June 30, 2019 March 31, 2019 Accounts receivable, net: Accounts receivable $ 602,656 $ 573,348 Allowance for doubtful accounts (1,029 ) (84 ) Allowance for sales returns (5,505 ) (6,486 ) Allowance for cooperative marketing arrangements (34,480 ) (35,080 ) Allowance for customer incentive programs (58,021 ) (60,036 ) Allowance for pricing programs (84,805 ) (88,353 ) $ 418,816 $ 383,309 Inventories: Raw materials $ 41,380 $ 40,970 Finished goods 255,627 252,525 $ 297,007 $ 293,495 Other current assets: Value-added tax receivables $ 34,989 $ 34,321 Prepaid expenses and other assets 33,938 34,795 $ 68,927 $ 69,116 Property, plant and equipment, net: Property, plant and equipment at cost $ 362,099 $ 359,345 Accumulated depreciation and amortization (285,386 ) (280,793 ) $ 76,713 $ 78,552 Other assets: Deferred tax assets $ 96,183 $ 90,808 Right-of-use assets (1) 31,994 — Trading investments for deferred compensation plan 23,420 20,363 Investments in privately held companies 16,371 16,022 Other assets 5,480 5,260 $ 173,448 $ 132,453 (1) Increase of balances was due to the adoption of Topic 842. Refer to Note 1 to the condensed consolidated financial statements for more information.
Schedule of components of balance sheet liability	The following table presents the components of certain balance sheet liability amounts as of June 30 and March 31, 2019 (in thousands): June 30, 2019 March 31, 2019 Accrued and other current liabilities: Accrued personnel expenses $ 67,869 $ 103,166 Accrued sales return liability 33,735 37,749 Accrued customer marketing, pricing and incentive programs 139,625 143,888 Lease liability (1) 12,358 — Warranty accrual 22,461 21,524 Income taxes payable 7,445 6,207 Other current liabilities 111,182 121,363 $ 394,675 $ 433,897 Other non-current liabilities: Warranty accrual $ 13,353 $ 12,705 Obligation for deferred compensation plan 23,420 20,363 Employee benefit plan obligation 51,978 51,448 Lease liability (1) 25,816 — Deferred tax liability 4,351 2,050 Other non-current liabilities 1,193 7,016 $ 120,111 $ 93,582 (1) Increase of balances was due to the adoption of Topic 842. Refer to Note 1 to the condensed consolidated financial statements for more information.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Jun. 30, 2019
Financial Instruments, Owned, at Fair Value [Abstract]
Schedule of financial assets and liabilities accounted for at fair value and classified by level within the fair value hierarchy	The following table presents the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis, excluding assets related to the Company’s defined benefit pension plans, classified by the level within the fair value hierarchy (in thousands): June 30, 2019 March 31, 2019 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets: Cash equivalents $ 497,035 $ — $ — $ 496,434 $ — $ — Trading investments for deferred compensation plan included in other assets: Money market funds $ 5,315 $ — $ — $ 4,080 $ — $ — Mutual funds 18,105 — — 16,283 — — Total of trading investments for deferred compensation plan $ 23,420 $ — $ — $ 20,363 $ — $ — Currency exchange derivative assets $ — $ 176 $ — $ — $ 455 $ — Liabilities: Currency exchange derivative liabilities $ — $ 1,177 $ — $ — $ 36 $ —

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	3 Months Ended
	Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Cash Flow Hedges Included in AOCI	The following table presents the amounts of gains (losses) on the Company’s derivative instruments designated as hedging instruments and their locations on its condensed consolidated statements of operations and condensed consolidated statements of comprehensive income for the three months ended June 30, 2019 and 2018 (in thousands): Three Months Ended Amount of Gain (Loss) Amount of Loss (Gain) 2019 2018 2019 2018 Cash flow hedges $ (943 ) $ 187 $ (226 ) $ 2,851

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of activity in the goodwill account	The following table summarizes the activities in the Company’s goodwill balance during the three months ended June 30, 2019 (in thousands): As of March 31, 2019 $ 343,684 Currency translation 18 As of June 30, 2019 $ 343,702
Schedule of intangible assets subject to amortization	The Company's acquired intangible assets subject to amortization were as follows (in thousands): June 30, 2019 March 31, 2019 Gross Carrying Amount Accumulated Net Carrying Amount Gross Carrying Amount Accumulated Net Carrying Amount Trademark and trade names $ 36,370 $ (14,889 ) $ 21,481 $ 36,370 $ (13,659 ) $ 22,711 Developed technology 95,207 (65,612 ) 29,595 95,207 (62,341 ) 32,866 Customer contracts/relationships 84,610 (23,554 ) 61,056 84,610 (21,188 ) 63,422 Total $ 216,187 $ (104,055 ) $ 112,132 $ 216,187 $ (97,188 ) $ 118,999

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Schedule of warranty liability	Changes in the Company’s warranty liability for the three months ended June 30, 2019 and 2018 were as follows (in thousands): Three Months Ended 2019 2018 Beginning of the period $ 34,229 $ 27,573 Provision 8,535 7,364 Settlements (6,977 ) (6,552 ) Currency translation 27 468 End of the period $ 35,814 $ 28,853

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	3 Months Ended
	Jun. 30, 2019
Stockholders' Equity Note [Abstract]
Schedule of components of accumulated other comprehensive income (loss)	The accumulated other comprehensive income (loss) was as follows (in thousands): Accumulated Other Comprehensive Income (Loss) Cumulative (1) Defined (1) Deferred Hedging Losses (1) Total March 31, 2019 $ (92,148 ) $ (13,932 ) $ 382 $ (105,698 ) Other comprehensive income (loss) (278 ) (258 ) (1,169 ) (1,705 ) June 30, 2019 $ (92,426 ) $ (14,190 ) $ (787 ) $ (107,403 ) (1) Tax effect was not significant as of June 30 or March 31, 2019 .

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Schedule of net sales by product categories, excluding intercompany transactions	ales by product categories and sales channels, excluding intercompany transactions, for the three months ended June 30, 2019 and 2018 were as follows (in thousands): Three Months Ended 2019 2018 Pointing Devices $ 121,983 $ 127,790 Keyboards & Combos 128,679 128,222 PC Webcams 28,128 29,674 Tablet & Other Accessories 38,339 32,436 Video Collaboration 73,424 58,792 Mobile Speakers 50,416 34,327 Audio & Wearables 58,624 52,154 Gaming 134,515 136,026 Smart Home 9,864 9,011 Other (1) 253 48 Total sales $ 644,225 $ 608,480 (1) Other category includes products that the Company currently intends to phase out, or has already phased out, because they are no longer strategic to the Company's business.
Schedule of net sales to unaffiliated customers by geographic region	ales by geographic region (based on the customers’ locations) for the three months ended June 30, 2019 and 2018 were as follows (in thousands): Three Months Ended 2019 2018 Americas $ 293,445 $ 276,928 EMEA 179,106 160,632 Asia Pacific 171,674 170,920 Total sales $ 644,225 $ 608,480
Schedule of long-lived assets by geographic region	Property, plant and equipment, net by geographic region were as follows (in thousands): June 30, 2019 March 31, 2019 Americas $ 27,746 $ 29,813 EMEA 4,803 4,537 Asia Pacific 44,164 44,202 Total property, plant and equipment, net $ 76,713 $ 78,552

Restructuring (Tables)

Restructuring (Tables)	3 Months Ended
	Jun. 30, 2019
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Costs	The following table summarizes restructuring related activities during the three months ended June 30, 2019 (in thousands): Termination Accrual balance at March 31, 2019 $ 4,389 Charges 478 Cash payments (1,956 ) Accrual balance at June 30, 2019 $ 2,911

Leases (Tables)

Leases (Tables)	3 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Maturity of lease liabilities under non-cancelable operating leases	Future lease payments included in the measurement of lease liabilities as of June 30, 2019 for the following five fiscal years and thereafter are as follows (in thousands): Operating Lease Remaining 2020 $ 10,294 2021 11,003 2022 9,065 2023 5,486 2024 1,236 Thereafter 3,655 Total lease payments 40,739 Less interest (2,565 ) Present value of lease liabilities $ 38,174
Schedule of future minimum rental payments under non-cancelable operating leases	Future minimum lease payments, as defined under the previous lease accounting guidance of ASC Topic 840 under our non-cancelable operating leases as of March 31, 2019 were as follows (in thousands): Years Ending March 31, Operating Lease 2020 $ 11,849 2021 10,002 2022 7,882 2023 5,111 2024 1,130 Thereafter 3,646 Total lease payments $ 39,620

The Company and Summary of Si_3

The Company and Summary of Significant Accounting Policies and Estimates - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Apr. 01, 2019	Mar. 31, 2019
Accounting Policies [Abstract]
Right-of-use assets	$ 31,994	$ 31,300
Lease liabilities	$ 38,174	$ 37,400
Deferred rent for leases			$ 6,100

Net Income Per Share - Computa

Net Income Per Share - Computation of Basic and Diluted Net Income per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Earnings Per Share [Abstract]
Net income	$ 45,345	$ 38,466
Shares used in net income per share computation:
Weighted average shares outstanding - basic (in shares)	166,302	165,317
Effect of potentially dilutive equivalent shares (in shares)	2,495	3,439
Weighted average shares outstanding - diluted (in shares)	168,797	168,756
Net income per share:
Basic (in dollars per share)	$ 0.27	$ 0.23
Diluted (in dollars per share)	$ 0.27	$ 0.23
Anti-dilutive equivalents shares excluded (in shares)	2,000	1,500

Employee Benefit Plans - Share

Employee Benefit Plans - Share-based Compensation Expenses and Related Tax Benefits (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Share-based compensation expense and related tax benefit
Total share-based compensation expense	$ 12,218	$ 13,259
Income tax benefit	(6,800)	(9,529)
Total share-based compensation expense, net of income tax benefit	5,418	3,730
Cost of goods sold
Share-based compensation expense and related tax benefit
Total share-based compensation expense	1,158	1,130
Marketing and selling
Share-based compensation expense and related tax benefit
Total share-based compensation expense	6,849	5,786
Research and development
Share-based compensation expense and related tax benefit
Total share-based compensation expense	2,154	1,549
General and administrative
Share-based compensation expense and related tax benefit
Total share-based compensation expense	$ 2,057	$ 4,794

Employee Benefit Plans - Narra

Employee Benefit Plans - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Share-based Compensation
Share-based compensation expenses capitalized as inventory	$ 0.9	$ 0.6
Defined benefit plans
Net periodic benefit cost	$ 2.4	$ 2.3

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Mar. 31, 2019
Operating Loss Carryforwards [Line Items]
Provision for (benefit from) income taxes	$ 6,536	$ (5,217)
Effective income tax rates	12.60%	(15.70%)
Full statutory income tax rate	13.62%
Tax benefit from reversal of uncertain tax position	$ 2,300
Discrete tax benefits from recognition of excess tax benefits	5,800	$ 8,300
Reversal of uncertain tax positions	1,200	$ 900
Unrecognized tax benefits	77,300		$ 76,500
Accrued interest and penalties related to uncertain tax positions	2,600		2,500
Expected decrease in uncertain tax positions	3,700
Non-current income tax payable
Operating Loss Carryforwards [Line Items]
Unrecognized tax benefits	$ 36,100		$ 36,400

Balance Sheet Components - Com

Balance Sheet Components - Components of Certain Balance Sheet Asset Amounts (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Apr. 01, 2019	Mar. 31, 2019
Accounts receivable, net:
Accounts receivable	$ 602,656		$ 573,348
Accounts receivable, net	418,816		383,309
Inventories:
Raw materials	41,380		40,970
Finished goods	255,627		252,525
Inventory, net	297,007		293,495
Other current assets:
Value-added tax receivables	34,989		34,321
Prepaid expenses and other assets	33,938		34,795
Other current assets, total	68,927		69,116
Property, plant and equipment, net:
Property, plant and equipment at cost	362,099		359,345
Accumulated depreciation and amortization	(285,386)		(280,793)
Property, plant and equipment, net	76,713		78,552
Other assets:
Deferred tax assets	96,183		90,808
Right-of-use assets	31,994	$ 31,300
Trading investments for deferred compensation plan	23,420		20,363
Investments in privately held companies	16,371		16,022
Other assets	5,480		5,260
Other assets, total	173,448		132,453
Allowance for doubtful accounts
Accounts receivable, net:
Valuation allowance for accounts receivable	(1,029)		(84)
Allowance for sales returns
Accounts receivable, net:
Valuation allowance for accounts receivable	(5,505)		(6,486)
Allowance for cooperative marketing arrangements
Accounts receivable, net:
Valuation allowance for accounts receivable	(34,480)		(35,080)
Allowance for customer incentive programs
Accounts receivable, net:
Valuation allowance for accounts receivable	(58,021)		(60,036)
Allowance for pricing programs
Accounts receivable, net:
Valuation allowance for accounts receivable	$ (84,805)		$ (88,353)

Balance Sheet Components - C_2

Balance Sheet Components - Components of Certain Balance Sheet Liability Amounts (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019
Accrued and other current liabilities:
Accrued personnel expenses	$ 67,869	$ 103,166
Accrued sales return liability	33,735	37,749
Accrued customer marketing, pricing and incentive programs	139,625	143,888
Lease liability	12,358
Warranty accrual	22,461	21,524
Income taxes payable	7,445	6,207
Other current liabilities	111,182	121,363
Accrued and other current liabilities	394,675	433,897
Other non-current liabilities:
Warranty accrual	13,353	12,705
Obligation for deferred compensation plan	23,420	20,363
Employee benefit plan obligation	51,978	51,448
Lease liability	25,816
Deferred tax liability	4,351	2,050
Other non-current liabilities	1,193	7,016
Non-current liabilities	$ 120,111	$ 93,582

Fair Value Measurements - Fina

Fair Value Measurements - Financial Assets and Liabilities, Classified by Level (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019
Assets:
Trading investments for deferred compensation plan	$ 23,420	$ 20,363
Fair Value, Measurements, Recurring | Level 1
Assets:
Cash equivalents	497,035	496,434
Trading investments for deferred compensation plan	23,420	20,363
Fair Value, Measurements, Recurring | Level 1 | Foreign exchange contracts
Assets:
Currency exchange derivative assets included in other current assets	0	0
Liabilities:
Currency exchange derivative liabilities included in accrued and other current liabilities	0	0
Fair Value, Measurements, Recurring | Level 1 | Money market funds
Assets:
Trading investments for deferred compensation plan	5,315	4,080
Fair Value, Measurements, Recurring | Level 1 | Mutual funds
Assets:
Trading investments for deferred compensation plan	18,105	16,283
Fair Value, Measurements, Recurring | Level 2
Assets:
Cash equivalents	0	0
Trading investments for deferred compensation plan	0	0
Fair Value, Measurements, Recurring | Level 2 | Foreign exchange contracts
Assets:
Currency exchange derivative assets included in other current assets	176	455
Liabilities:
Currency exchange derivative liabilities included in accrued and other current liabilities	1,177	36
Fair Value, Measurements, Recurring | Level 2 | Money market funds
Assets:
Trading investments for deferred compensation plan	0	0
Fair Value, Measurements, Recurring | Level 2 | Mutual funds
Assets:
Trading investments for deferred compensation plan	0	0
Fair Value, Measurements, Recurring | Level 3
Assets:
Cash equivalents	0	0
Trading investments for deferred compensation plan	0	0
Fair Value, Measurements, Recurring | Level 3 | Foreign exchange contracts
Assets:
Currency exchange derivative assets included in other current assets	0	0
Liabilities:
Currency exchange derivative liabilities included in accrued and other current liabilities	0	0
Fair Value, Measurements, Recurring | Level 3 | Money market funds
Assets:
Trading investments for deferred compensation plan	0	0
Fair Value, Measurements, Recurring | Level 3 | Mutual funds
Assets:
Trading investments for deferred compensation plan	$ 0	$ 0

Fair Value Measurements - Narr

Fair Value Measurements - Narrative (Details) - USD ($)	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Mar. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading investments for deferred compensation plan	$ 23,420,000		$ 20,363,000
Equity method investments	7,000,000		6,600,000
Cost method investments	9,500,000		9,500,000
Impairment of non-marketable investments	0	$ 0
Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading investments for deferred compensation plan	$ 23,420,000		$ 20,363,000

Derivative Financial Instrume_3

Derivative Financial Instruments - Gains and Losses on Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Amounts of gains and losses on the derivative instruments
Amount of Gain (Loss) Deferred as a Component of Accumulated Other Comprehensive Loss	$ (943)	$ 187
Amount of Loss (Gain) Reclassified from Accumulated Other Comprehensive Loss to Costs of Goods Sold	(226)	2,851
Designated as hedging instruments | Cash flow hedges
Amounts of gains and losses on the derivative instruments
Amount of Gain (Loss) Deferred as a Component of Accumulated Other Comprehensive Loss	(943)	187
Amount of Loss (Gain) Reclassified from Accumulated Other Comprehensive Loss to Costs of Goods Sold	$ (226)	$ 2,851

Derivative Financial Instrume_4

Derivative Financial Instruments - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2019	Mar. 31, 2019
Derivative [Line Items]
Additional term to recognize derivative loss in Accumulated Other Comprehensive Loss	2 months
Not Designated as Hedging Instrument | Foreign Exchange Forward And Swap
Derivative [Line Items]
Derivative term of contract	1 month
Derivative, notional amount	$ 53.2	$ 50.4
Foreign Exchange Forward | Designated as hedging instruments | Cash flow hedges
Derivative [Line Items]
Derivative term of contract	4 months
Derivative, notional amount	$ 68.2	$ 41.4
Cash flow hedge gain to be reclassified within twelve months	$ (0.8)

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Summary of Activity In Goodwill Balance (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2019USD ($)
Goodwill
Balance at the beginning of the period	$ 343,684
Currency translation	18
Balance at the end of the period	$ 343,702

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Schedule of Intangible Assets Subject to Amortization (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 216,187	$ 216,187
Accumulated Amortization	(104,055)	(97,188)
Net Carrying Amount	112,132	118,999
Trademark and trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	36,370	36,370
Accumulated Amortization	(14,889)	(13,659)
Net Carrying Amount	21,481	22,711
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	95,207	95,207
Accumulated Amortization	(65,612)	(62,341)
Net Carrying Amount	29,595	32,866
Customer contracts/relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	84,610	84,610
Accumulated Amortization	(23,554)	(21,188)
Net Carrying Amount	$ 61,056	$ 63,422

Financing Arrangements - Narrat

Financing Arrangements - Narrative (Details) - USD ($)	Jun. 30, 2019	Mar. 31, 2019
Financing Arrangements
Outstanding borrowings	$ 0	$ 0
Line of Credit
Financing Arrangements
Maximum borrowing capacity	79,300,000
Outstanding bank guarantees	$ 15,700,000

Commitments and Contingencies -

Commitments and Contingencies - Changes in Warranty Liability (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Changes in the warranty liability:
Beginning of the period	$ 34,229	$ 27,573
Provision	8,535	7,364
Settlements	(6,977)	(6,552)
Currency translation	27	468
End of the period	$ 35,814	$ 28,853

Commitments and Contingencies_2

Commitments and Contingencies - Narrative (Details)	Jun. 30, 2019USD ($)
Indemnification agreement
Other Commitments [Line Items]
Amount accrued for indemnification provisions	$ 0

Shareholders' Equity - Narrati

Shareholders' Equity - Narrative (Details) - USD ($)	1 Months Ended
	Mar. 31, 2017	Jun. 30, 2019
Stockholders' Equity Note [Abstract]
Authorized amount in buyback program	$ 250,000,000
Shares authorized to be repurchased (in shares)	17,300,000
Period to complete share repurchase program	3 years
Remaining number of shares authorized to be repurchased (in shares)		172,400,000

Shareholders' Equity - Compone

Shareholders' Equity - Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Accumulated Other Comprehensive Income (Loss)
Beginning of the period	$ 1,176,339	$ 1,050,557
Other comprehensive income (loss)	(1,705)	(2,089)
End of the period	1,198,034	1,055,260
Total
Accumulated Other Comprehensive Income (Loss)
Beginning of the period	(105,698)	(93,455)
End of the period	(107,403)	$ (95,544)
Cumulative Translation Adjustment
Accumulated Other Comprehensive Income (Loss)
Beginning of the period	(92,148)
Other comprehensive income (loss)	(278)
End of the period	(92,426)
Defined Benefit Plan
Accumulated Other Comprehensive Income (Loss)
Beginning of the period	(13,932)
Other comprehensive income (loss)	(258)
End of the period	(14,190)
Deferred Hedging Losses
Accumulated Other Comprehensive Income (Loss)
Beginning of the period	382
Other comprehensive income (loss)	(1,169)
End of the period	$ (787)

Segment Information - Net Sale

Segment Information - Net Sales by Product Family- Excluding Intercompany Transactions (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting Information [Line Items]
Net sales	$ 644,225	$ 608,480
Pointing Devices
Segment Reporting Information [Line Items]
Net sales	121,983	127,790
Keyboards & Combos
Segment Reporting Information [Line Items]
Net sales	128,679	128,222
PC Webcams
Segment Reporting Information [Line Items]
Net sales	28,128	29,674
Tablet & Other Accessories
Segment Reporting Information [Line Items]
Net sales	38,339	32,436
Video Collaboration
Segment Reporting Information [Line Items]
Net sales	73,424	58,792
Mobile Speakers
Segment Reporting Information [Line Items]
Net sales	50,416	34,327
Audio & Wearables
Segment Reporting Information [Line Items]
Net sales	58,624	52,154
Gaming
Segment Reporting Information [Line Items]
Net sales	134,515	136,026
Smart Home
Segment Reporting Information [Line Items]
Net sales	9,864	9,011
Other
Segment Reporting Information [Line Items]
Net sales	$ 253	$ 48

Segment Information - Net Sa_2

Segment Information - Net Sales and Long-Lived Assets by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Mar. 31, 2019
Net sales to unaffiliated customers and long-lived assets by geographic region
Net sales	$ 644,225	$ 608,480
Property, plant and equipment, net	76,713		$ 78,552
Americas
Net sales to unaffiliated customers and long-lived assets by geographic region
Net sales	293,445	276,928
Property, plant and equipment, net	27,746		29,813
EMEA
Net sales to unaffiliated customers and long-lived assets by geographic region
Net sales	179,106	160,632
Property, plant and equipment, net	4,803		4,537
Asia Pacific
Net sales to unaffiliated customers and long-lived assets by geographic region
Net sales	171,674	$ 170,920
Property, plant and equipment, net	$ 44,164		$ 44,202

Segment Information - Narrativ

Segment Information - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Mar. 31, 2019
Segment Reporting Information [Line Items]
Long lived assets	$ 76,713		$ 78,552
United States
Segment Reporting Information [Line Items]
Long lived assets	27,700		29,800
China
Segment Reporting Information [Line Items]
Long lived assets	36,500		36,400
Switzerland
Segment Reporting Information [Line Items]
Long lived assets	$ 2,000		$ 1,700
Geographic Concentration | Consolidated net sales from continuing operations | Switzerland
Segment Reporting Information [Line Items]
Percentage of consolidated net sales	3.00%	2.00%

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2019	Jul. 31, 2018
Termination Benefits
Restructuring Cost and Reserve [Line Items]
Cumulative charges recognized	$ 11.8
Minimum
Restructuring Cost and Reserve [Line Items]
Approved cost of restructuring		$ 10
Maximum
Restructuring Cost and Reserve [Line Items]
Approved cost of restructuring		$ 15

Restructuring - Schedule of Res

Restructuring - Schedule of Restructuring Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Restructuring Reserve [Roll Forward]
Charges	$ 478	$ 9,921
Termination Benefits
Restructuring Reserve [Roll Forward]
Accrual beginning balance	4,389
Charges	478
Cash payments	(1,956)
Accrual ending balance	$ 2,911

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	3 Months Ended
	Jun. 30, 2019USD ($)
Leases [Abstract]
Operating lease costs	$ 3.3
Weighted-average remaining lease term	4 years
Weighted-average discount rate	2.90%
Cash paid for operating lease liabilities	$ 3.1
Right-of-use assets obtained in exchange for operating lease liabilities	$ 3.4

Leases - Maturity of Lease Liab

Leases - Maturity of Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Apr. 01, 2019
Leases [Abstract]
Remaining 2020	$ 10,294
2021	11,003
2022	9,065
2023	5,486
2024	1,236
Thereafter	3,655
Total lease payments	40,739
Less interest	(2,565)
Present value of lease liabilities	$ 38,174	$ 37,400

Leases - Future Minimum Rental

Leases - Future Minimum Rental Payments (Details) $ in Thousands	Mar. 31, 2019USD ($)
Leases [Abstract]
2020	$ 11,849
2021	10,002
2022	7,882
2023	5,111
2024	1,130
Thereafter	3,646
Total lease payments	$ 39,620